Solana ecosystem tokens and meme coins are surging on the back of SOL's 110% rally over the past month. Bonk token (BONK) is up 66% in the last 24 hours, extending its weekly gain to 170%. Trading volumes and capitalization tripled in a week.

The growth indicates an influx of new funds into the Solana blockchain, especially among risk-on traders. The locked-in value on Solana projects increased to $465 million as of Thursday from $300 million in early October.

In early November, developers introduced one-way staking in bonk liquidity pools, allowing traders to earn returns of over 25% per annum, which could help improve sentiment.

The SOL token has become one of the best crypto assets of the year, despite allegations of fraud by the founder of the FTX crypto exchange, Sam Bankman-Fried, who was one of the biggest supporters of the Solana ecosystem.